Ethereum Nears Key Decision Point Amid $3,000 Support and Resistance

Ethereum's price is nearing a crucial decision point, moving between key support and resistance levels:

  • Ethereum held the $3,000 support level amid market volatility.
  • Institutional investors reportedly opened long positions, suggesting confidence in further appreciation.
  • If Ethereum breaks above $3,300–$3,400, it may trigger a rally toward $3,700–$3,800.
  • Failure to break this resistance could lead to a retest of the $3,000 support level.

Analysis highlights:

  • Ethereum is reacting from a major weekly support zone, indicating potential for an upside move.
  • The key resistance area will determine the future trend direction.
  • Sustained hold and strong reaction at critical levels could affirm a bullish outlook, while rejection may indicate bearish momentum.
  • A five-wave decline below support could shift the outlook to a bearish scenario.

Ethereum